Bilyonaryo Anton Huang is confident gifts will overflow beneath the Christmas tree in 2021 as the country’s biggest luxury retailer continue to see sales bounce back closer to pre-pandemic levels

SSI Group reported a 28 percent year on year rise in revenues to P9.4 billion from January to September this year. The Group reduced its losses by 42 percent year on year to P444.6 million during the same period.

SSI president Huang SSI’s third quarter performance with revenues rising 28 percent year on year to P2.9 billion despite the two-week enhanced community quarantine (ECQ) and four-week modified ECQ in August and September

He said this showed the resilience of SSI’s core consumer base in the face of low foot traffic and shrinking margins.

He said the positive results from the group’s strategy to optimize expenses, boost cash flow, and expand its online reach (digital sales up 142 percent year on year in the first nine months this year).

“Since the downgrade of Metro Manila’s quarantine status to Level 3 on Nov. 6, we have seen significant growth in sales as more customers return to malls and to working from their offices, and as people have begun to socialize and prepare for the Christmas season,” said Huang.

With COVID cases hopefully controlled through Christmas, we expect that the sales momentum that started at the beginning of October will continue until the end of the year,” said SSI president Huang.

The post Anton Huang expects a merry Christmas in 2021 as SSI slowly recovers from COVID nightmare first appeared on Bilyonaryo Business News.



Anton Huang expects a merry Christmas in 2021 as SSI slowly recovers from COVID nightmare
Source: Filipino Daily Inquirer